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Maybe..but then it goes on for longer.
Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. Nevertheless, they must still make all mortgage payments that come due during the chapter 13 plan on time.
Another advantage of chapter 13 is that it allows individuals to reschedule secured debts like cars (other than a mortgage for their primary residence) and extend them over the life of the chapter 13 plan. Doing this may lower the payments.
Chapter 13 also has a special provision that protects third parties who are liable with the debtor on "consumer debts." This provision may protect co-signers.
Finally, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 protection.
What else can I help you with?
How does the down payment affect the monthly payment amount when purchasing a car?
The down payment on a car reduces the amount of money you need to borrow, which can lower your monthly payment amount. A larger down payment typically results in a smaller monthly payment, while a smaller down payment usually leads to a higher monthly payment.
Average cost of a monthly car payment?
The average cost of a monthly car payment is $250. Of course the actual amounts will differ depending on the value of the car, and the amount of the down payment.
What can affect your monthly car payment?
Interest and down payment.
Do you have to pay a monthly service for your car alarm too?
Some car alarms are automatically included in the car and do not require a monthly payment. However, there are some car alarms, such as the GPS car alarm, which can be installed for life or require a monthly payment.
What is the average monthly car payment?
the average car payment is about 200$ which this stayment is not made based on the car types.
Can I pay an extra monthly car payment to speed up the pay-off, like on my mortgage?
Yes, if you are paying of a car loan, there is no penalty for paying over your monthly payment. However if your monthly car payment is on a lease agreement you will have to refer to the terms of your lease as to what is allowed.
How do I calculate my monthly car payments for it?
This is a very good website to calculate the monthly car payments: http://autos.aol.com/calculators/car-payment-calculator/ or http://www.carmax.com/enus/car-payment-estimates-calculator/default.html
What can you do if you are a month past due with your car monthly payment?
Pay it as soon as possible.
How can I trade-in a car with no down payment?
You can trade in a car with no down payment by negotiating with the dealership to roll the value of your current car into the new loan. This may result in a higher monthly payment or longer loan term.
What happen when you pay off your monthly car insurance?
If you would like it to continue then you should make the next monthly payment.
If you have saved 4000 for a down payment on a new car. The largest monthly payment you can afford is 3501. The loan will have a 12 APR based on end of month payments. What is the most expensive care?
To determine the most expensive car you can afford with a $4,000 down payment and a maximum monthly payment of $3,501 at a 12% APR, you can use the formula for the present value of an annuity. However, given the high monthly payment relative to the down payment, the most expensive car would be calculated by first finding the loan amount you can afford based on the monthly payment and interest rate. With these parameters, you could afford a car priced around $100,000, assuming a loan term of 60 months.
How much would a monthly car payment be on a 21000 car?
Need down, interest rate and term to calculate
